“There is no demand in Andhra Pradesh, including in the industrial town of Visakhapatnam. Buyers have become scarce and it looks like they will become scarcer as the economy is cooling,” says Are Siva Reddy.

​This will help AP, which is emerging as an industrial hub, to play a pivotal role in the industrial sector, especially in micro, small and medium enterprises (MSME) sector, said BEE in a statement on Sunday.

Jaganmohan Reddy held a review meeting with revenue department officials on Wednesday. He said existing land records were not accurate and there were lots of differences between the ground situation and records available.

If the initial information is any indication, the government is in favour of dropping the administrative capital plan, and continuing in the existing set-up, particularly to avoid spending on new buildings for administrative capital.

The minister said that as per Section 59 of the RERA, 2016, a promoter or builder would be liable to be imprisoned for three years or pay a fine of 10% of the project cost if he was not registered under RERA and violated the rules and guidelines under the Act.